excise tax

Scott and Jeff chat with Daniel Hemel, Law Professor at New York University about the recently enacted excise tax on share repurchases or buybacks. Daniel has thought and written about buybacks, for example, here.

We discuss buybacks, dividends, and why both progressives and conservatives might be in favor of a tax on buybacks.

The story of Beau Wrigley's toe-dip in cannabis, and more!

Welcome to another episode of "Cannabis Daily"! 

Here are today's stories:

• Profile piece on Beau Wrigley's attempt at getting into cannabis - Politico
• Rob Dyrdek and Diplo get behind HERBL over Leisuretown seltzers - Business of Cannabis
• Canada’s cannabis industry wants excise tax review Globe and Mail and higher THC - Terrace Standard
• Cannabis can benefit women's health says Dr Dani Gordon, author of CBD Bible - BusinessCann

As mentioned in the episode - we'd love to get your take on any of our stories!

Tweet us and let us know your thoughts, here.

Email us about our stories, here.

Missed the previous episode? 

You can catch up with it here. 

About Cannabis Daily.

Cannabis Daily is a cannabis news and interview program from Business of Cannabis. We highlight the companies, brands, people and trends driving the cannabis industry.

Business of Cannabis is a cannabis industry platform marrying cannabis news, video and podcast content, newsletters and online and real-world cannabis events.

June 28-29 | Cannabis Europa in London is a two day event delivering cutting-edge knowledge from senior government officials, leading scientific experts and some of the most influential businesses in the industry - https://www.cannabis-europa.com

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HKS faculty members Cornell William Brooks and Linda Bilmes explore the vexing disconnect between the vast US system of restorative justice and the deep-rooted, intergenerational harms suffered by Black Americans. 

Every day, someone somewhere in America is being compensated under what is known as restorative justice, a type of justice that instead of meting out punishment to a wrongdoer, seeks to make the victims or their families whole—or at least repair them as much as possible. Restorative justice is also known as reparative justice, or, in the context of the experience of Black Americans from the first slave ships in the 1600s through to today, simply reparations. 

But unlike those other, everyday reparations, Black reparations are seen by many as a highly-charged political third rail, so last year Harvard Kennedy School faculty members Cornell William Brooks and Linda Bilmes launched a research project to see if they could change the conversation. Cataloging the harms suffered by Black Americans through the centuries from slavery itself through segregation, disenfranchisement, economic and educational discrimination, wealth inequality, and more, they found that no group was perhaps more deserving of being made whole. They also studied and cataloged a huge system of American restorative compensation that works every day to make people whole for harms they have suffered. What they didn’t find, however, was a connection between the two.

Cornell William Brooks is a professor of the practice of nonprofit management, a former civil rights attorney for the U.S. Justice Department, and the former national president of the NAACP. 

Linda Bilmes is a senior lecturer in public policy, the U.S. representative to the United Nations Committee of Experts on Public Administration, and has made a career of re-examining assumptions about the costs, values, and priorities of public programs. They joined host Ralph Ranalli to discuss their research, which is due out in a paper to be published in the coming weeks.

The median household pays more taxes in Texas than in California.

In this episode, Trishul and Aaron explore different state and local tax rates across the country. In addition to state income taxes, they look at property taxes, sales taxes, and excise taxes on goods such as on gas, alcohol, and tobacco. While income taxes are consistently progressive in the states that actually charge an income tax, most of the other taxes are regressive when compared to income. The overall impact is that taxes end up disproportionately burdening the poor, which has led to greater inequality over time.

Episode References

Who Pays?
State Income Tax Brackets
States with Highest and Lowest Taxes
New York State Tax Profile
California State Tax
Sales and Use Tax Rates
Excise Tax
Finnish Speeding Ticket Based on Income
Taxation of Muni Bonds

Podcast Description

Welcome to The Mind Money Spectrum Podcast where your hosts Aaron Agte and Trishul Patel go beyond traditional finance questions to help you explore how to use your money to achieve the freedom you want in life. Aaron is a Financial Planner from the Bay Area, and Trishul is a Wealth Manager on the East Coast. For more information about Aaron, check out GraystoneAdvisor.com. And for more information on Trishul check out InvestingForever.com. We thank you all for listening, and stay tuned for our latest episode on our website, MindMoneySpectrum.com.

Aaron Agte and Trishul Patel go beyond traditional finance questions to help you explore how to use your money to achieve the freedom you want in life. Aaron is a Bay Area Financial Planner with GraystoneAdvisor.com, and Trishul is an East Coast Wealth Manager (InvestingForever.com). MindMoneySpectrum.com and YouTube.

Dan Mulholland and Henry Casale, senior partners at Horty Springer and Mattern, discuss the implications of the changes in tax laws that will impose excise tax on excess compensation paid by exempt organizations.The so-called Triple Ex Provision.